📤Posting an Ad to Sell Crypto
Learn how to post an add to sell crypto to other traders on OpenPeer
Ads can only be posted by approved Merchants. Apply to become an approved Merchant here: https://forms.gle/qiAzsPeCphUhZgBM9.
1. Go to the Post Ad Page
You can post a Sell Ad by pressing the Post Ad button in the navigation menu of the application. Se
2. Connect to OpenPeer
Once on the Post Ad page, connect your wallet of choice to OpenPeer (in this tutorial we have used MetaMask) and verify ownership of the account by signing a message.
Note: Signing the message proves valid ownership of the account and is completely free of cost. It cannot transfer any of the crypto in your wallet.
3. Choose Ad Type & Trading Pair
Choose the type of Ad you want to place. To sell crypto, select Selling Crypto.
Next, choose Instant Escrow. Then choose the token, chain, and the fiat currency you want to trade. Click Proceed.
4. Add Sell Order Details
After specifying the trading pair, enter the total amount you are willing to sell along with the minimum and maximum fiat limit per order.
You can set the price by selecting either a Fixed or Floating rate. A Fixed rate is the exact price you want to trade at and will not change. A Floating rate is a percentage limit above/below the spot price at the time of trade which will automatically update as the spot rate changes. Depending on what fiat currency you are trading with the spot price can be set as the Coingecko rate or the minimum or median rate from Binance P2P. Click Proceed.
5. Select Payment Method
Select the payment method the buyer will use to transfer fiat money to you. Then Proceed.
6. Fund Escrow Contract
When placing a Sell Ad, the crypto will be escrowed immediately so when a buyer opens an order they can complete the first steps of the trade. To escrow your crypto for sale, enter the amount of tokens you wish to sell in total and send them to your unique escrow address as shown at this step.
7. Wait for Buyers to Respond
Your sell order ad will be visible to all buyers on OpenPeer. When a buyer wants to trade with you, they will open the order from your Ad and your escrowed crypto will be sent to an escrow contract. The buyer will make the payment using your preferred payment method as listed on the Ad. You will be notified via an email notification when a trade is opened. Next, confirm the buyer has made payment correctly and the fiat received in your bank account. Once confirmed, in OpenPeer mark the funds as received and release the escrowed crypto. Then the trade is complete.
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